One of China's largest State-owned defense contractors will announce outsourcing deals worth tens of billions of yuan later this year, a move that is expected to benefit the country's private enterprises. Based on specific requirements, contract winners will be asked to provide research and development services, to make components or entire equipment, or to conduct tests or measurements for the company. Lyu Xiaoge, spokesman and head of publicity office of CASIC, told China Daily that these procurement needs were decided after collecting and analyzing outsourcing plans from the company's subsidiaries.
The move aims to increase the company's business transparency, reduce its outsourcing costs as well as attract better suppliers.
In another development, CASIC has invited private enterprises to take part in its commercial rocket project. The company's Fourth Academy recently commissioned a private company to develop and manufacture composite-material case for the Kuaizhou 11 solid-fuel rocket's engine. The academy would need at least three years to develop and make the engine case itself as it will have to build a new plant for the component.
In comparison, the private company has promised it will develop the product and then make the delivery within nine months.
Liang's academy began to develop Kuaizhou solid-fuel rockets in 2009, intending to form a low-cost, quick-response rocket family for the commercial launch market.
The first in the family, Kuaizhou 1, was launched in September 2013 from the Jiuquan Satellite Launch Center in northwestern China's Gansu province, putting an earth observation satellite into orbit. Currently, the academy is making the Kuaizhou 11 and plans to launch it around 2017, according to the designer. An earlier report by the Economic Information Daily quoted sources from the Ministry of Industry and Information Technology as saying that the market value of space launch service, satellite applications as well as space-based internet will reach around 800 billion yuan by the end of 2020. Wang Xiaolin, chief designer at Beijing-based Aerospace Science and Industry Intelligent Robot Co Ltd, said researchers at the company are specialists in servomotor, navigational devices and sensors, all of which are key parts in a robot. The researchers had helped develop China's carrier rockets and missiles as Wang's company is part of China Aerospace Science and Industry Corp, one of the nation's largest space and defense contractors.
The company has been commissioned by a Taiwan-based electronics manufacturing giant, whose name Wang would not disclose, to develop a robotic transport system for its industrial parks on the Chinese mainland. His firm is also designing inspection robots for the Ministry of Housing and Urban-Rural Development to check urban underground pipelines.
In 2015, Aerospace Science and Industry Intelligent Robot earned 50 million yuan ($7.7 million) in sales revenue from its robots and robotic components, according to Wang.
Despite its rapid growth, the company is facing fierce competition as many private enterprises have considerable share of the market already and are better placed to make products quickly to meet clients' specific requirements, according to Wang.
Once the users familiarize themselves with the company's products, there will be a higher chance for it to sell its robots to them, Wang said. According to statistics from the International Federation of Robotics, China has been the biggest user of industrial robots in the world since 2013 when it surpassed Japan in terms of the number of robots sold that year.
In 2014, about 57,000 industrial robots were sold in China, accounting for nearly 25 percent of the world's total sales of robots that year, it said. Such a device uses magnetic flux leakage method to detect corrosion and pitting in pipelines and is used to inspect about 70 percent of existing pipelines in the world. Previously, China depended on overseas manufacturers for this kind of equipment, resulting in high expenditure and risks like exposing sensitive information to foreigners, he said. The device developed by the institute passed a host of stringent tests in pipelines in the Bohai Bay in October, proving it is ready for mass production and formal operations, said Zhou.
The Zhou-led institute specializes in radar and photoelectric equipment for spacecraft and rockets. The value of the institute's civilian businesses reached nearly 400 million yuan ($62 million) last year. CNOOC owns hundreds of subsea pipelines off China's coastline that spans more than 6,000 kilometers, the company's statistics show. A standard industry practice is to check a pipeline every three to five years to make sure it is working well with no damage or risk like corrosion. Industry observers said for long, several foreign firms, including General Electric and ROSEN Group, have dominated the pipeline inspection services segment in the Chinese market. Tang Xiaoyu, who heads the 3-D printer development at the Tianjin Jinhang Physics Research Institute under China Aerospace Science and Industry Corp, told China Daily that a consumer electronics wholesaler in Argentina has placed orders for 1,000 3-D printers developed by the institute and the first batch of 100 were delivered to the buyer in December. During the mid-March CeBIT, the largest and most internationally represented information technology and electronics expo held in Hanover, Germany, companies from more than 20 nations, including the United States, Egypt, Iran and Japan, expressed interest or intent to buy the institute's 3-D printers.
Tianjin Jinhang specializes in laser-related equipment and has produced many types of optoelectronic instruments for China's carrier rockets and spacecraft.
Most of their users in China are schools and research organizations while some State-owned aircraft and space enterprises also use its products. Domestically, there are more than 200 retailers selling the institute's 3-D printers, according to Tang. He said the institute expects a total revenue of about 100 million yuan ($15.4 million) from its 3-D printers within the coming five years. According to the Shenzhen-based consulting firm Qianzhan Industry Research Institute, the market value of 3-D printer industry in China will reach 10 billion yuan by the end of this year while International Data Corp, a US-based market research, analysis and advisory company, expects nearly 160,000 made-in-China 3-D printers would be sold this year, more than doubling last year's sales of 77,000 units. Two engineers at the Tianjin Jinhang Physics Research Institute under China Aerospace Science and Industry Corp conduct test on a 3-D printer.
Last year's performance was in sharp contrast to the 2012-14 period, when annual sales grew by nearly 20 billion yuan. Despite a slowdown in electric home appliances, Gree said it will make more efforts to develop emerging businesses, including new energy, smart home products, industrial-related products, smartphones and intelligent equipment, according to the report. Dong Mingzhu, Gree's president, said in an earlier interview with China Daily that the market for air conditioners "needed to be reconstructed after expansion in previous years". Gree's dramatic sales drop was very much in line, however, with nationwide market conditions. Domestic makers sold about 106 million air conditioners in 2015, down 8.6 percent compared with the previous year, according to an industry report.
Based in Guangdong's Zhuhai, Gree was forced to reduce its prices last year, with some items being cut by as much as 1,000 yuan, according to Dong. She said the planned emerging businesses are based on the company's already-strong capabilities in self-developed home appliances technology, especially its air conditioners, which have proved highly competitive in both domestic and overseas markets. Gree began testing its smartphones early last year, and its second generation will be launched soon domestically, according to the company.
It said in the new-energy sector, Gree has acquired a Zhuhai energy company, with the aim of developing new-energy vehicles. Workers at Gree Electric Appliances Inc's industrial park in Wuhan, Hubei province, assemble air conditioners. Chinese mainland stocks on Tuesday gained the most in a month as investor confidence was boosted by President Xi Jinping's call for "the healthy development" of the country's bourses.
Analysts said that the rise also reflected easing concerns over the possibility of the authorities tightening the monetary policy after the massive credit growth in the first quarter of the year. Xi's comments came on Friday at a meeting of the Political Bureau of the Communist Party of China Central Committee. The latest economic data suggested a mixed outlook for investors as some analysts said that the improvement in the first quarter may be a short-lived one and the government will have to continue to roll out supportive policies to shore up the economy. Official data on Sunday showed that the manufacturing Purchasing Managers Index, a gauge of the country's manufacturing activity, moderated to 50.1 in April after a strong expansion in the previous month. While the PMI was below estimates, it remained in the expansionary territory for a second consecutive month.
Chang Jian, chief China economist at Barclay's Capital, said in a research note that the Chinese monetary authority will likely further cut interest rates in the second half of the year.
Beijing Automotive Industry Holding Co, one of China's largest automakers in terms of sales, plans to produce up to 100,000 vehicles at its new manufacturing base in South Africa in 2018, the company's chairman said on Tuesday. Scheduled to break ground next month and begin production in November 2017, the Port Elizabeth plant will be the single-largest Chinese investment in all of Africa.
With a 5-billion-yuan ($773 million) investment from BAIC, the plant will be operated as a joint venture with Industrial Development Corp, a South African financial company providing capital for various projects. Xu Heyi, the group's chairman, said continued investment in infrastructure development will be key for the company's sustained growth in Africa over the next decade as consumers there are keen to buy easily serviceable and inexpensive vehicles.
Buoyed by the surging demand for new vehicles in Africa, BAIC established a minibus assembly plant that employs more than 500 people in Springs, also in South Africa, in 2013. BAIC's new manufacturing base will produce passenger vehicles, sport utility vehicles, minivans and vans. Zhao Ying, a researcher at the Institute of Industrial Economics of the Chinese Academy of Social Sciences in Beijing, said in most African countries, where new vehicles are beyond the reach of most people, secondhand vehicles command a large share of the market. For instance, Japanese carmakers including Toyota Motor Corp and Nissan Motor Co, the main source for secondhand vehicles in Africa, have stopped producing spare parts for some models from the 1990s.
BAIC managed to sell 40,000 vehicles in global markets through its 24 overseas plants and 124 sales branches in 37 countries by the end of 2015. As China and other partners are accelerating the pace of the ongoing negotiations to upgrade the China-ASEAN Free Trade Agreement, Xu from BAIC said the company will add more products in its manufacturing base in Ruili of Yunnan province by the end of 2017 to compete with other established global rivals in the markets of Southeast Asia.
A visitor to the 2016 Beijing International Auto Expo, which was held last month, examines a new-energy vehicle made by Beijing Automotive Industry Holding Co. One of the largest sources of internet giant Baidu Inc's revenue has been put under threat as a government investigation looks into the company's search business after the death of a cancer-stricken college student. Officials from the Cyberspace Administration of China, the National Health and Family Planning Commission and the State Administration for Industry and Commerce - the regulator of online advertising, launched a joint probe on Monday after the 21-year-old Wei Zexi sought out a controversial treatment advertised among Baidu's search results. His experience triggered an online outcry in China, a country that has witnessed numerous scandals of medical-related advertisements on Baidu since 2008, when China Central Television found that the search giant advertised unqualified drug producers. The share price of the Nasdaq-listed Baidu fell by 7.92 percent, the most in nine months, after the investigation was announced on Monday. Tian Hou, an analyst at TH Capital in Beijing, said the investigation will certainly slow down Baidu's business in the short term, as medical-related advertisements account for about 30 percent of the company's revenue. Despite the public's criticism of the business model of paid listing, Hou said it is the advertiser that causes the problems rather than the model itself. The two tanks, which can hold 160,000 cubic meters of gas each, will be added to the existing LNG station in Putian, Fujian province, the project's operator said in a statement. China National Offshore Oil Corp said the construction of the two tanks is expected to be completed by 2018. Yang Hua, chairman of CNOOC, said that the company plans to provide more clean energy especially in the coastal regions during the 13th Five-Year Plan (2016-20).
The global glut and sluggish economy will continue to drive down prices of LNG, which means that imports of the super-cooled fuel is cheaper than domestic production, experts said. Neil Beveridge, a senior analyst at Bernstein Research, said that China's gas demand is also expected to increase after rising 14 percent in the first quarter. LNG is natural gas that has been changed into a liquid state by cooling it to minus 162 C, which poses high requirements for technologies and tank structure.
Since 2008, CNOOC has formed a team to develop the LNG storage technology called full containment LNG storage tank. CNOOC is running the Dapeng LNG terminal in Guangdong, the country's first and largest LNG importer, as well as six other LNG receiving stations in Shanghai, Fujian, Zhejiang, Tianjin and Zhuhai, with a total capacity of 27.8 million tons per year. Last year, CNOOC imported 1.3 million tons of LNG, accounting for 70 percent of the country's total LNG imports. The Beijing-based company is also building LNG vessels and has set a target to develop its LNG transportation business. The main dining space, surrounded by green bamboo, is generously filled with flowers, has a moon-shaped doorway, and is decorated in Great Wall gray and jade.
But what's surprising is that it's actually owned by one of biggest names in global fast food: Yum Brands Inc's KFC. Located inside Shanghai's National Exhibition and Convention Center, the "Original+" concept outlet offers customers a digitalized experience, covering everything from ordering to paying, as well as other types of entertainment. Joey Wat, CEO of KFC China, said "Original+" combines both the company's "Original Recipe" chicken and innovative technologies. Other technologies used include upgraded automatic ordering machines and Music Charging Tables, where customers can place cellphones capable of wireless charging inside a charging area, so that while the devices are being energized, their owners can relax by enjoying a list of songs customized by BaiduMP3 for the store. KFC sees the development of the concept store as a move to reposition itself to keep up with the latest in social and consumer demands, by encompassing the internet and mobile services, particularly to attract the younger generation.
The advent of such high-tech dining, however, is not expected to fully offset arguably the biggest challenge being faced by the fast-food industry: Chinese consumers increasingly opting for healthier eating, within an array of different choices, he said. Another fast-food chain, McDonald's Corp, meanwhile, is also betting big on digital growth.
It has already unveiled its Experience of the Future restaurant, which offers digital, personalized and customized experiences. This year the global fast-food giant will also upgrade its 150 Create Your Taste restaurants in first-tier Chinese cities, offering digital services and do-it-yourself burgers. Yum's sales accelerated faster in China than Wall Street expected in the first quarter of 2016, a year in which the company plans to spin off its China unit. A consortium backed by sovereign fund China Investment Corp has already expressed interest in buying a majority stake.
Yum said last week that sales at its China restaurants open at least a year rose 6 percent in the first quarter. As a tech reporter, I've been following the rapid growth of sharing-economy companies, such as Didi Chuxing and Uber Technologies Inc, for two years.


So when my husband and I moved to our new apartment three months ago, which meant our old apartment was an "idle asset", I thought why not set up our own lodging business on Airbnb Inc and get further involved in the sharing economy? You can host people with different backgrounds from across the world, you can provide them with local knowledge, shaping their views on the city you live, you can enjoy the flexibility to list or delist the apartment based on your own needs, and you can make some decent money. Vice-Minister of Commerce Qian Keming on Monday urged more support for the development of China's foreign trade in order to realize steady and positive development this year. The latest Caixin China Manufacturing Purchasing Managers Index, an indicator of manufacturing activity, edged down to 49.4 in April, suggesting that the economic recovery is yet to firm up. Uber Technologies Inc said it has signed up with online payment platform Alipay to allow Chinese travelers to request and pay for their international rides in yuan using the Alipay app in the more than 400 cities that the ride-hailing service operates in. A unit of China's Shanghai Pengxin Group Co bought a controlling stake in Brazilian soybean trader and biodiesel maker Fiagril Ltd for $286 million, said a person with direct knowledge of the matter.
Fiji will chair the 27th governors' meeting of the Pacific developing members of the Asian Development Bank when the ADB holds its next annual gathering in Japan next year, the Fijian government said on Tuesday. Aviation industry leaders from around the Asia-Pacific region will gather in New Zealand this week to discuss how to manage unprecedented air traffic growth.
US manufacturing activity expanded at a slower pace in April, indicating that low oil prices and a strong US dollar continue to weigh on the industry, according to statistics released on Monday. South Korea's e-commerce exports surpassed imports for the first time in the first quarter as Chinese consumers increased their purchases of cosmetics and clothing via the internet, a government report showed on Monday. Australia's central bank lowered the cash rate by 25 basis points to a record low of 1.75 percent on Tuesday, following information showing inflationary pressures were lower than expected.
Garment and footwear sector, Cambodia's largest foreign currency earner, has seen a 13-percent rise in exports in the first quarter of 2016, according to a report of the Ministry of Industry. Myanmar's border trade was down by over $24 million in April, the first month of fiscal year 2016-17, according to official figures of Ministry of Commerce on Monday. Zhang Xiangdong (right), co-founder and CEO of 700Bike, introduces his company's latest folding bike at a special session on how technological innovations are driving changes in China at the 10th "Re: publica" Internet Conference in Berlin. The 180-meter ship with a capacity of 37,500 cubic meters will be used to carry ethylene from a refinery in Pennsylvania to the south of Sweden, according to Tommy Hjalmas, director of newbuilds and special projects at Navigator Gas. Since the late 1990s, Navigator Gas has placed a series of orders for LEG and liquefied natural gas carriers with Jiangnan Shipyard, said Lin Ou, chairman and general manager of the company. Lin noted that they included an order for five 22,000-cubic-meter LEG vessels, the world's largest at the time. The ship, which burns both heavy fuel oil and LNG, is fully designed and developed at the shipyard. This is in stark contrast with the Chinese shipbuilders that saw their new orders fall 47.9 percent in 2015 from the previous year, as the data from the Ministry of Industry and Information Technology showed.
Despite the bleak situation, China remains a leading shipbuilding country in terms of completion, new orders received and handheld ship orders in 2015.
China's shipbuilding industry has also improved its consolidation as the country's top 10 shipyards have built 53.4 percent of the nation's total orders.
China's growing appetite for e-commerce and mobile payments is offering an expansion opportunity to Hongda Hi-tech Group Co Ltd, one of the largest domestic firms that develop biometric verification technologies.
Hongda, the No 1 maker of identification card recognition equipment in China, is focusing on iris and voice recognition technologies to cement its position as global tech giants such as Alibaba Group Holding Ltd and Apple Inc which are also rolling out identification technologies. Wang, a soft-spoken engineering-teacher-turned-entrepreneur, said his flagship product, a population data management system widely used by the Ministry of Public Security, took 60 to 70 percent of the market share.
Hongda is competing with an array of Chinese companies, including Beijing-based Techshino Technology Co and Miaxis Biometrics Co Ltd for government-funded bio-identification projects. Because Hongda helps the government manage residents' ID information, it gets access to an ID pool that covers the entire Chinese population of more than 1.3 billion. The comparison work helps banks and internet companies to pinpoint the exact individual offline so they are able to evaluate financial risks before providing services to that person. China's bio-identification sector has been experiencing a surge in demand for its services from 2014, when market turnover exceeded 8 billion yuan, according to a report from industry consultancy Bosi Data Research Center.
Zhu Jinsong, head of the information security control arm of Tencent Holdings Ltd, said telecom fraud and malicious apps are threatening Chinese shoppers' financial safety. Although Chinese internet companies and global hardware vendors such as Apple, are providing personal information safety services such as fingerprint verification, it is difficult for them to identify the user in the real world because they cannot access China's ID card databases. Wang said Hongda will invest more in the internet sector and partner with key service providers on mobile verification systems. Hongda is also targeting overseas market for growth amid a government-backed initiative to bring its technologies to neighboring countries.
Wang sees no difference between his company's technology and those of international competitors and that helps when bidding for overseas projects. The world's second-largest film market, with a box office haul of $6.8 billion in 2015, is churning out top-grossing movies inspired by popular novels published online. As the self-publishing phenomenon has shaken up the literary scene in the West, writers in China have increasingly eschewed conventional publishing models and found readers on the internet.
Online novels have amassed hundreds of millions of readers, and now they are being tapped for their potential to reach an even broader audience once adapted into films.
More movies based on online literary hits are expected to give Hollywood a run for its money in this summer's blockbuster season, and online novels have also been adapted into TV dramas and video games with great commercial success. Zhou and his peers are desperate to replicate the success of Harry Potter, which of course began life as a series of novels before spawning films, games, audio books and numerous other licensed products, with a brand worth more than $15 billion. More than 140 million Chinese were regularly reading online literature on their computers and smartphones as of December, according to consultancy iResearch Consulting Group. Popular genres include mystery and fantasy, court dramas - especially those involving political struggles, office romance, time travel and tomb-raiding adventures. Whereas online literature websites survived in the past on the money users pay to read long stories, they are now trying to become a licenser for works with potential to be adapted into movies and games. A moviegoer walks past a poster for Mojin: The Lost Legend, an Indiana Jones-style thriller adapted from the online novel Guichuideng, at a cinema in Nantong, Jiangsu province.
Steven Ciobo said the government's decision to sign the historic China-Australia Free Trade Agreement, also known as ChAFTA, had helped boost exports to China substantially. He said the reduction and in some cases abolition of tariffs on agricultural products had led to a big increase in exports to China, something he said was greatly benefiting Australian businesses and would continue to do so for "years to come". Ciobo said the encouraging export figures would continue to rise as Asia's middle class grows, with increased demand not only from China, but from Japan and South Korea as well, after Australia signed free trade deals with both them earlier this decade. The first product will be on sale, both in supermarkets and China's largest e-commerce retailer Tmall, in July, and is expected to be available in 50 cities by the end of this year. Smith was a member of the 1,000-strong business delegation, the largest to date, which visited China under the Australia Week China 2016 program, led by Prime Minister Malcolm Turnbull, in April. Having spent two years studying the market for infant formula, which has been dubbed "white gold" in China, the company, which is targeting mothers born after 1985, defined the new generation of Chinese parents as less price-sensitive and eager to learn about the manufacturing of products. The formula offered by Purefine Nature under the brand Berex will retail at around 300 yuan ($46) per can, which is considered as the medium- to high-end category in the industry. Earlier in April, 17,000 cans of fake-brand infant formula were found to have been manufactured and sold nationwide, according to the official website of the Supreme People's Procuratorate.
Following that, the tariff department of the Ministry of Finance said in a statement on April 13 that all infant formula sold in China, including that purchased through cross-border e-commerce, must be registered with the country's food and drug authorities. Statistics from research firm Nielsen Holdings Plc estimated that China's infant formula market was 60 billion yuan in 2013 and would keep growing at a compound annual growth rate of 14 percent to reach more than 100 billion by the end of 2016. Imported milk had a 54 percent market share, up from 30 percent before 2008, when a big food safety scandal broke out, in which some milk and infant formula were found to have been adulterated with melamine.
Song Ye, a dairy industry analyst with the Distribution Productivity Promotion Center of China Commerce, estimated that more than 80 percent of foreign infant formula brands entered the market after 2008.
Smith said the official implementation of the China-Australia Free Trade Agreement, which was signed in June 2015, could also help the company better tap into the market, which boasts a large population of nearly 150 million wealthy middle-class consumers. Most of the investments were in gateway cities such as New York, London, Sydney, and regional hubs like Chicago and Seattle. A Knight Frank analyst forecast further growth in outbound real estate investments this year despite the Chinese economic slowdown. Ji said China's institutional investors as well as banks and insurers are focused on commercial properties with stable returns, which show their preference for deals with lower risks. In the future, developers may also look into opportunities in the emerging markets of Southeast Asia and South Asia. In 2015, the top 10 overseas deals completed by Chinese mainland insurers, institutions and developers focused on commercial properties, particularly office real estate, according to data from Real Capital Analytics, a research and information services provider. For example, Ping An Insurance (Group) Co purchased Tower Place in London for $506 million in January 2015, and Anbang Insurance Group Co purchase Merrilll Lynch Financial Center in New York for $414 million. Knight Frank's report said a mixed group of investors consisting of lesser known small-to-mid-cap companies and developers, private equity funds and individuals are increasingly active and their investments in mature markets will also grow in the future. As for individual outbound real estate investors in China, more will choose to allocate their assets in residential properties and their investment decisions are more closely linked to their children's education and their own demands for care for years after retiring. The 117-year-old cheese-maker started selling infant formula this year through a joint venture with Blackmores as demand for the dried-milk powder surged in China. In an interview in Sydney last week, Bega Chairman Barry Irvin said the two companies aim to follow up with nutritional powders for the elderly as well as diabetes sufferers, and then push into developing markets across Asia. Irvin, a fifth-generation dairy farmer, wants to break a history of meager returns at Australia's leading cheese-maker.
Blackmores stock has more than quadrupled since the start of 2015, driven by demand from China.
Falling commodity prices drove Australian dairy group Murray Goulburn Co-operative Ltd to slash its profit target as much as 50 percent on Wednesday. Murray Goulburn also announced the departure of Managing Director Gary Helou and said it would bring forward efforts to make higher-margin, ready-to-eat foods.
Based on Bega's average profit margin over the past five years, the company would have made more money putting its revenue in a local bank account. Expansion into Asian markets, where products from Australia and New Zealand are trusted and claim a higher price, is part of Irvin's plan. AIG Chief Executive Officer Peter Hancock, under pressure from activist investors John Paulson and Carl Icahn to boost returns and simplify operations, announced in January he was creating a new legacy portfolio. AIG owned about 851 million shares in Beijing-based PICC P&C at the end of December, according to data compiled by Bloomberg.
Tech giant Yahoo Inc has reached a deal to sell a 20-hectare undeveloped site in Santa Clara, California, near the heart of Silicon Valley and 6 kilometers from the company's Sunnyvale headquarters, to Chinese internet company LeEco Holdings Ltd, according to the Silicon Valley Business Journal. Yahoo has revealed that it might sell real estate as part of its restructuring plan, and media reports said in December that Yahoo was preparing to sell the site. Yahoo had bought property in Santa Clara for $106 million in 2006, when the company's revenue was still growing and the site was estimated to accommodate more than 12,000 workers, said the report. Yahoo had also got an approval to build up to 279,000 square meters of office or research and development space on the site, in 13 buildings. Apart from LeEco, internet giants such as Google Inc and Apple Inc are said to be among the bidders. On April 28, LeEco announced it would establish its new 7,400-sq-m North American headquarters in San Jose, a facility that can accommodate as many as 800 employees.
It will also be the future home of LeEco's self-driving research center the LeFuture AI Institute, through partnering with Faraday Future, an electric-car company based in California. Moreover, top talent engaged in research and development, products sales and management from Apple, Google and Samsung Electronics Co Ltd have also been attracted into LeEco's US office. LeEco could learn the most advanced technology and even attract top-level talent through establishing its headquarters in Silicon Valley, and to help expand in the North American market with its ecosystem of technology and content offerings, Pang added. Industry sources said selling the property could meet some of Yahoo's cash demands and reduce its operating cost, which also reflects the decline of the traditional internet conglomerate and the rise of some new internet forces.
At the ongoing Auto China 2016 in Beijing, SAIC Maxus, a group firm of SAIC Motor, has put on display two big-size zero-emission electric vehicles: the seven-seater EG10 and the 15-seater EV80. What's more, the auto major is already thinking of exports, particularly to the Middle East, Australia and New Zealand, even though the governments there are not as zealous as China in encouraging environmentally friendly surface transport technologies, senior officials of the company said. Besides, SAIC Motor will step up efforts to increase sales of its NEVs in China, said Wu Fengjie, its regional deputy general manager for sales.
One, focus on urban families for the EG10, and travel firms and vehicle-based businesses like mobile coffee shops for the EV80. Two, heavy investment will be made toward "changing the mindset" of peoples across its global market footprint. SAIC's NEVs, company officials said, can cover a distance of 150-200 kilometers on a full charge. This year, SAIC is targeting to sell in China about 6,000 units of the EV80 priced around 500,000 yuan each, and about 1,000 units of the EG10 priced around 400,000 yuan each. It is understood that a senior official of China's People's Liberation Army checked out SAIC's NEVs at the expo and was all praise for them.
In the markets in the Middle East, the United Arab Emirates is said to be keener than others to switch over to NEVs. During the Dubai Motor Show in November, the UAE industry minister appreciated SAIC's NEVs.
The European Union regulations are moving toward the Euro 6 standard for emissions, which is expected to increase demand for electric vehicles. Covestro went through a comparatively harder time in China in the second and third quarters of last year due to a slump in the financial markets and the problem of destocking.


However, the momentum quickly picked up in the fourth quarter and has been even more noticeable since the Spring Festival in February this year, said CEO Patrick Thomas.
As a result, Chinese market recorded a 13.3 percent of sales increase in the first three months of this year, up from the 4 percent last year and the highest in the entire Asia-Pacific region.
The company's Asia-Pacific headquarters is now based in Shanghai, a reflection of the rising importance of the Chinese market to Covestro.
More importantly, the headquarters for its global polycarbonate business, which is one of Covestro's core businesses, is also now located in Shanghai. Covestro has also expanded the scope of its research center in Shanghai, contributing to global market studies. Confidence in the Chinese market comes from the evolution that Covestro has witnessed in the past few years.
With the central government's economic initiatives such as Made in China 2025, Thomas said he believes that there has come a tipping point of change for China's manufacturing industry.
Jahwa, wholly owned by Ping An Insurance (Group) Co, is acquiring the company from British private-equity firm 3i Group Plc, the group said.
20121 Kings 8:28 -- But please listen to my prayer and my request, because I am your servant. They will be gradually published on the CASICloud website in accordance with schedules of the subsidiaries concerned.
It also intends to set a good example for other Chinese enterprises in terms of taking advantage of the internet and fulfilling the supply-side structural reform, which was launched by the central government in late 2015 to improve China-made products, Lyu said. In November 2014, the Kuaizhou 2 sent another satellite into space from the same launch center. We also design small and mid-sized portable robots that can handle counter-terrorism tasks, reconnaissance, explosive defusing, nuclear plant patrol as well as mineshaft inspection," Wang told China Daily. The engineer said introducing this will create a big opportunity to the company because a metropolis like Beijing will need hundreds of such machines. Now we can proudly announce that China can inspect its subsea pipelines on its own," said Zhou Ming, director of the Beijing Huahang Radio Measurement Institute that developed the equipment. Though its focus is still on space equipment, many of its researchers have been designated to take advantage of their expertise in the space industry to develop products to serve other business sectors. They don't sell the machine to Chinese oil companies, but only provide the Chinese clients an inspection report," said Zheng Li, chief designer of the equipment at the institute. A buyer from Germany placed an order for 20 of our products at the event while two retailers from France and the Netherlands respectively are in talks with us on their procurement contract after they saw our 3-D printer at CeBIT," Tang said.
Therefore, we are good at developing 3-D printers and we have full intellectual property rights of our products, which is why many foreign clients favor our products rather than those made by some Chinese private firms despite their lower prices," the engineer said.
The proportion is about 70 percent in most Sub-Saharan countries such as South Africa, Ghana, Ethiopia, Angola and Kenya, Zhao said. He called the treatment useless and criticized Baidu's paid listing practice in online posts before he died last month.
After completion, it will be able to receive as much as 6.3 million metric tons of LNG per year, CNOOC said. They added that China's LNG imports are expected to rise in the long term amid mounting pressure caused by air pollution. And it's been completely designed digitally, in collaboration with Baidu Inc, the Chinese web services giant.
The unit's planned sale has garnered intense interest, attracting high-profile potential suitors and sparking speculation it will fetch a rich valuation. Its KFC restaurants, the majority of its 7,205 stores in the division, posted a 12 percent rise in same-store sales, while the smaller Pizza Hut Casual Dining posted a 12 percent decline.
And as a consumer, I've been actively using such apps to hail private cars or book a stay in complete strangers' apartments when traveling around.
Our small adventure online has led to more than 225 reviews, dozens of requests, and three successful bookings in the first month we listed the apartment online. Always upload gorgeous looking photos of your apartment online to attract potential guests. Use a nice profile photo of yourself with a big smile and include some personal details, such as occupation, hobbies and age, to introduce yourself. Target a particular group of guests, such as tourists or students, based on the features of your apartment and highlight whatever makes you apartment special. For a part-time Airbnb host like me, it is important to have the support from your spouse, family or friends. To achieve this objective, local authorities should enhance their leadership, introduce supportive measures, optimize the business environment, encourage innovation and promote the sharing of experience to get trade growth back on track, Qian told a meeting in Guangzhou, the site of the Canton Fair. Kidman & Co withdrew its A$371 million ($280 million) bid for the country's largest private land-holding company and is planning to make another, a partner in the purchase attempt said on Tuesday. Alipay is the online payment platform of Ant Financial Services Group, an affiliate of China's biggest e-commerce company Alibaba Group Holding Ltd.
The deal would be the first major Chinese acquisition of an agricultural company in Brazil. The position of chair will be assumed by Fiji's Attorney-General and Minister for Finance Aiyaz Sayed-Khaiyum, according to the Department of Information.
The Civil Air Navigation Services Organization Asia Pacific Conference is to be hosted by state-owned air navigation service provider Airways New Zealand on May 5-6 in the South Island town of Queenstown. Reserve Bank of Australia Governor Glenn Stevens said the global economy was continuing to grow, though at a slightly slower pace than earlier expected, with forecasts having been revised down a little further recently.
According to Hu, in the past few years, Navigator Gas has ordered four 21,000-cubic-meter LEG vessels, five 22,000-cubic-meter liquefied petroleum gas vessels and four 37,500-cubic-meter LEG vessels.
Another two will be delivered by the end of this year, with the last vessel scheduled for delivery next year, added Hu. According to Hu, it is the shipyard's flexibility and research and development capability that helped win such high-value-added contracts in the face of tough competition from South Korean companies. Hongda said the company also provides more than 60 percent of the fingerprint scanning machines used in Chinese embassies around the world.
The statistics are stored in a government data center, but the company is allowed to pair the ID information with its customers who only have the individuals' online ID. A more sophisticated verification process is expected to give customers better protection over data safety," according to Zhu. But he said the company gets at least 20 percent revenue growth each year, thanks to growing business in the country.
The initiative, announced in 2013, is an attempt to expand trade with countries in Asia, the Middle East, Europe and Eastern Africa.
Mojin: The Lost Legend, an Indiana Jones-style thriller adapted from the online novel Guichuideng, was the third-highest-grossing Chinese film last year. It seems only a matter of time before China gets its first major media franchise based on an online novel. Comics are quickly catching up as the fan base is broadening in China," said Zhang Xiaoting, CEO of Beijing-based investment firm Ming Capital. The company planned to penetrate "the most important overseas market" starting with its milk powder and introduce at least six products, including infant supplements and diapers, within one year.
Residential properties will be their first considerations in cities with demands supported by demographic and commercial conditions.
There has been significantly increased investment in commercial real estate in the United States, making it the fastest-growing mature market. Destinations with good education resources and ample natural landscape resources will be priorities, said the report.
Tumbling commodity prices have made it difficult to make money manufacturing simple food ingredients like skimmed milk powder.
Bega, which takes its name from the southern New South Wales town where it's based, needs the tie-up with Sydney-based Blackmores to deliver higher-profile goods that can command a price premium, Irvin said.
That book includes about a quarter of the company's equity and is comprised of discontinued businesses and investments that AIG plans to exit. The CEO plans to free up about $9 billion as part of a two-year plan to fund $25 billion of share buybacks and dividend payments. After the sale, AIG is subject to a 60-day lockup on its remaining stake, according to the terms. The US insurer also took part in PICC P&C's rights offerings in recent years at subscription prices of less than HK$8. And the purchase indicates a rapid expansion plan for LeEco, which has been involved in diverse businesses, making phones, TVs, mountain bikes and soon electric cars, and that it is tapping into the entertainment and sports sectors. LeEco will establish its North American headquarters in San Jose, which will also be the future home of its self-driving R&D center. If you invest a lot, you earn a lot eventually," said Shawber Guan, SAIC Maxus' overseas business sales manager. That's adequate to take care of daily needs of city couples driving to office together, dropping their children at school, and weekend needs like shopping or short getaway rides for picnics and sightseeing, they said.
Local distributors in Dubai later requested SAIC to arrange a few sample vehicles for extended test runs, Guan said. During the same period, the group's adjusted core earnings reached 508 million euros ($571 million), an 8.5 percent year-on-year increase.
He spoke on the sidelines of the 30th International Exhibition on Plastics and Rubber Industries, which concluded in Shanghai last week.
Implied in all these changes is the fact that China is where the technology demand comes from, according to Thomas. While the company used to resort to traders for selling some of their products, they have been seeing a growing number of customers skipping traders and going directly to them for questions and more products. The quality of Chinese manufacturing exports, such as automobiles, has been largely improved while the prices are more affordable compared with European counterparts. More than 28,000 contracts with a value of 1.6 billion yuan have been inked through the website so far, said Lyu. Offering people a chance to stay in your home doesn't mean that they need to have a real-life experience of how sloppy you live. My apartment, which is quite small and far away from the city center of Beijing, is certainly not ideal for tourists or a big family. Airbnb also has a system to automatically give you a guide on pricing based on changes in supply and demand, the location and other factors of your listed apartment. Running an Airbnb business may look fun, but to offer a superb service, you need to reply to customers' requests and questions as quickly as possible.
Australia last week rejected the bid for the cattle company by the group headed by Hunan Dakang Pasture Farming Co Ltd, saying the sale is not in its national interest.
Sayed-Khaiyum is currently attending the 26th governors' meeting of the Pacific developing members of the ADB in Frankfurt, Germany. He noted commodity prices have firmed noticeably from recent lows, but this follows very substantial declines over the past couple of years.
In addition, there is a trend that China's shipbuilders are optimizing their product lines and increasing their value-added products among the orders, according to the Ministry of Industry and Information Technology. Technologies used to build nuclear power stations, high-speed trains as well as IT products are among items getting a boost under the program. Meanwhile strong growth in Australia continues unabated while investment in the United Kingdom is on par with that of 2014. The PICC P&C holding is one of the easier ones to sell, given that the stock is publicly traded in Hong Kong. The company has managed to produce a windmill blade up to 50 meters long with one single liquid injection.
The problem is how to prevent unqualified medical institutions from advertising online," she said. So here are some tips to run an Airbnb business, in case you want to be part of the sharing economy yourself.
Airbnb does offer free photo-shoot by professional photographer, but there is a long waiting list. But it is equipped with good transportation and is in a neighborhood full of hardworking young people trying to make a better future in Beijing. Dakang's partners in the purchase attempt were Shanghai CRED Real Estate Stock Co Ltd and local company Australian Rural Capital Ltd. The garment and footwear sector accounts for about 80 percent of the country's total exports. So, we'll increase our advertising budget to explain the advantages of NEVs to consumers in our target markets," said Guan. So I brand it as a place for young travelers who want to have a taste of real life in the capital of China, and for those who come here to find jobs. Australian Treasurer Scott Morrison gave the partners a week to address his concerns but the bidders have now withdrawn their offer, and intend to make a fresh bid they hope can allay any regulatory concerns. My first guest was a university student from Shanghai and the other two guests were overseas returnees who came to Beijing to have job interviews.




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